How Long Should it Take to Sell a Business?
There are a number of factors which must be considered when answering this question, including: (i) the sellability of the business – is it in a highly desirable industry, has the owner crafted the company to make himself indispensable?; (ii) the asking price for the business – is the price based upon what the market will pay, or is it based upon what the owner needs to receive in order to retire?; and (iii) what’s been the trajectory of the business during the past three years – are sales going up, down, or sideways, and has cash flow been going up, down, or sideways?
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By Tom